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Jan 24, 2013
01/13
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CURRENT
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the debt ceiling. the g.o.p. is calling to balance the federal budget in just ten years. that's almost twice as fast as previous efforts by republicans. if that is the case, medicare and other safety net programs wills take a huge hit. yesterday's extension of the debt ceiling now goes to the senate which will likely pass it as well. we'll be right back. (vo) current's award winning original series is back with an all new episode straight from the headlines. (vo) in the minefield of the nation's gun control debate, this could be the most polarizing issue. >> anybody can claim stand your ground and they could get away with murder. >> announcer: broadcasting across the nation on your radio and current tv, this is the "bill press show." >> bill: yes indeed. equality moves to the front lines as the pentagon today lifts the ban on women in combat. big move. a great move. hello, everybody. happy, happy thursday and welcome, welcome to the "full court press." coming to you live all the way across this great l
the debt ceiling. the g.o.p. is calling to balance the federal budget in just ten years. that's almost twice as fast as previous efforts by republicans. if that is the case, medicare and other safety net programs wills take a huge hit. yesterday's extension of the debt ceiling now goes to the senate which will likely pass it as well. we'll be right back. (vo) current's award winning original series is back with an all new episode straight from the headlines. (vo) in the minefield of the...
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Jan 29, 2013
01/13
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CURRENT
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if not that fight, then in the next debt ceiling fight the next debt ceiling fight. the demand nor spending cuts isn't going to go anywhere. >> bill: barney frank, he would be fired up, ready to go. he knows she is issues. he knows the fiscal issues better than anybody else. >> deval patrick said he would be happy to have him. he didn't endorse it per se but he expressed sort of opens to the idea. >> wouldn't be a big learning curve for barney. >> bill: no, not at all. i think it would be very tough for governor patrick not to appoint him. i mean who else could step in and have all of the information and all of the experience you need to really fight for the people. >> i was going to say -- >> bill: now, of course, so is it is sort of a relief the fiscal issues are out of the way and we can talk about something else like maybe immigration reform. very unusual to see these days eight senators, four from each party, agree on anything, correct? >> it is. >> bill: you cover the congress. you're there. >> i do. filibuster reform deal that killed filibuster reform. this is
if not that fight, then in the next debt ceiling fight the next debt ceiling fight. the demand nor spending cuts isn't going to go anywhere. >> bill: barney frank, he would be fired up, ready to go. he knows she is issues. he knows the fiscal issues better than anybody else. >> deval patrick said he would be happy to have him. he didn't endorse it per se but he expressed sort of opens to the idea. >> wouldn't be a big learning curve for barney. >> bill: no, not at all. i...
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Jan 26, 2013
01/13
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WETA
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now, in order to get the votes to allow the debt ceiling to be raised three months, speaker boehner promised his members the opportunity to vote on a budget that would be balanced within ten years. you can't tell people between 55 and 65, don't listen to this anyway. cure not going to be affected by this. if you balance the budget in ten years. so they're their challenge in winning over americans to the vision of smaller government and practical way is getting tougher. gwen: when you see something like the senator from georgia who says today he's not going to run. he said nothing to do with the fact he split had tea party challenge coming up. but people like that, mitch mcconnell, senate minority leader, getting a little nervous. >> i think that is a real link between what john is talking about. in that the people who are in office have got to worry about the tea party and its demands for these really significant cuts. and then you have r.n.c. down in charlotte saying, let's not focus on those things anymore at an event, by the way, where no tea party person was invited. how can they balls t
now, in order to get the votes to allow the debt ceiling to be raised three months, speaker boehner promised his members the opportunity to vote on a budget that would be balanced within ten years. you can't tell people between 55 and 65, don't listen to this anyway. cure not going to be affected by this. if you balance the budget in ten years. so they're their challenge in winning over americans to the vision of smaller government and practical way is getting tougher. gwen: when you see...
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Jan 27, 2013
01/13
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WUSA
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ceiling. a measure that the democratically controlled senate agreed to vote on. we went to capitol hill to meet with senator mac thornberry of texas who's the number two republican. i asked him what he thought about the guidance and whether it answered the questions that gop members have been raising. >> not really. i think a lot of us wanted dod to be serious about explaining the effects of sequestration before we ever got to this point and that would have in our judgment helped motivate people to find another way. other spending cuts to take the place of the sequestration. and i still think there are a lot of questions as the services work through there with some -- this with some accounts exempt. some not. some are going to be hit pretty hard. >> overall from a good fashion and at least trying to make clear that some of those are going to be dramatic cuts? >> it was a beginning but i still think there are lots of details to be fleshed out that most people including most members of congress
ceiling. a measure that the democratically controlled senate agreed to vote on. we went to capitol hill to meet with senator mac thornberry of texas who's the number two republican. i asked him what he thought about the guidance and whether it answered the questions that gop members have been raising. >> not really. i think a lot of us wanted dod to be serious about explaining the effects of sequestration before we ever got to this point and that would have in our judgment helped motivate...
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Jan 31, 2013
01/13
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and republicans still seem to think it might be fun to use a government shutdown or a debt ceiling crisis to force further cuts. you guys sure know how to show a gal a good time. there's no question over the long term we have to balance budgets and pay down our debts, but short-term deficit hawkishness is hurting us badly right now. our problem is not relief for storm victims or federal money for family planning services, it's a tax base that's too low to support rising health care costs and an aging population over the long term. let's deal with those problems over the long term. but for now, congress, how about we just try to avoid shooting ourselves in the foot. i know blaming government for a lack of spending is not the type of blaming government that the gop usually enjoys, but in lean times it's the only type of blaming government that we can afford. you know what would really be great is some stimulus, but you understand that's probably too much to ask for. so for now let's just keep the government from reversing the private sector-led recovery that is already under way. all right.
and republicans still seem to think it might be fun to use a government shutdown or a debt ceiling crisis to force further cuts. you guys sure know how to show a gal a good time. there's no question over the long term we have to balance budgets and pay down our debts, but short-term deficit hawkishness is hurting us badly right now. our problem is not relief for storm victims or federal money for family planning services, it's a tax base that's too low to support rising health care costs and an...
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Jan 31, 2013
01/13
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we're prepared to have these cuts. republicans want the win, and democrats don't necessarily want to fight all over again on this and maybe threaten something on the debt ceiling, which for them would be worse. >> one of the things that hasn't changed since the republicans saying these job numbers are terrible. we're going to keep cutting medical they get even worse. >> so in terms of the big battle and any kind of possible grand bargain, you think that's over continuing resolution and budget numbers? >> yeah. well, i mean, the first thing that comes up time-wise, is on march 1st we have to deal with the sequester because the republicans reordered the way that these things are going to fall on the calendar. the sequester is those automatic spending cuts. billions -- tens of billions of dollars just this year in spending cuts. the republicans would like to have some kind of spending cut win this year, and that might be their only opportunity to get one, so you can see them hunkering in and saying, you know, we're going
we're prepared to have these cuts. republicans want the win, and democrats don't necessarily want to fight all over again on this and maybe threaten something on the debt ceiling, which for them would be worse. >> one of the things that hasn't changed since the republicans saying these job numbers are terrible. we're going to keep cutting medical they get even worse. >> so in terms of the big battle and any kind of possible grand bargain, you think that's over continuing resolution...
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Jan 28, 2013
01/13
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that would pay for the last debt ceiling increase. >> the looming deadline is march 1. deputy defense secretary ash carter warned friday that the pentagon's $800,000 civilian employees will face furloughs. and reduce paychecks starting in april, if sequestration is not avoided. pentagon is now planning to eliminate 46,000 temporary civilian workers as a result of these imminent budget cuts. >> i got a perfect storm coming up in the next few months. we have this whole crazy mechanism called sequester. that means $1 trillion will be cut across the board. $500 billion out of defense. across the board. >> in a meat ax approach that will hollow out the force if it happens. >> one of the nation's largest defense contractors general dynamics based in false church virginia reported $2 billion in losses. blaming the upcoming defense cuts. the aerospace industry association estimates that $450,000 jobs will be lost in virginia, maryland and washington, d.c. if dequest ration cuts take place in march, which could be devastating to the local economy. >> we are talking about somethi
that would pay for the last debt ceiling increase. >> the looming deadline is march 1. deputy defense secretary ash carter warned friday that the pentagon's $800,000 civilian employees will face furloughs. and reduce paychecks starting in april, if sequestration is not avoided. pentagon is now planning to eliminate 46,000 temporary civilian workers as a result of these imminent budget cuts. >> i got a perfect storm coming up in the next few months. we have this whole crazy mechanism...
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Jan 24, 2013
01/13
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CURRENT
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take for instance, raising the debt ceiling. something that everyone agrees need to be done. well, good news. by a vote of 285-144 today the house passed a bill raising the debt ceiling until may. but due to a provision that would withhold congressional pay if a budget isn't approved this year. 111 democrats voted against raiding the debt ceiling calling that provision a gimmick. however, it goes well beyond the house. today senator dick durbin revealed the democrats don't have the 51 votes necessary to reinstitute the talking filibuster even through the so-called nuclear option, even though everyone seems to want it. the last hope in filibuster reform is harry reid's great compromise of needing 41 votes to maintain a filibuster but i'm confident that the democrats will find some way to back down from that, too. joining me now the only one and only michael tomasky. starting with the debt ceiling. 111 democrats voted against raising the debt ceiling. was this all about the no budget no pay provision are the democrats trying to stick it to the g.o.p. >> i think the latter and i
take for instance, raising the debt ceiling. something that everyone agrees need to be done. well, good news. by a vote of 285-144 today the house passed a bill raising the debt ceiling until may. but due to a provision that would withhold congressional pay if a budget isn't approved this year. 111 democrats voted against raiding the debt ceiling calling that provision a gimmick. however, it goes well beyond the house. today senator dick durbin revealed the democrats don't have the 51 votes...
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Jan 24, 2013
01/13
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a budget fight than a long-protracted fight over the debt ceiling. >> cenk: i'm going to be controversial. i don't think so, and i'll tell you why and michael and grace you can speak to this. i think what it is that their bosses in corporate america said no debt cereal ceiling is sacrosanct. you mess with payments to soldiers any time you like but you're not going to mess with our bonds, what do you think about that, grace. >> that's a little conspiracial for my test, but they said, we can't default. don't hold the economy hostage any more. cut spending where you want to cut spending but don't use the debt limit to do it. they realize there is no political appetite in the business world in the regular world, and in the political world to hold the economy hostage in the way that they did in 2011. >> michael, tell me how in the world they gain leverage by having the fight over the budget or the sequester instead? i don't see it. >> there is something that nobody is talking about here, which is the political leverage that boehner wants right now. i think boehner needs to reassess. i think th
a budget fight than a long-protracted fight over the debt ceiling. >> cenk: i'm going to be controversial. i don't think so, and i'll tell you why and michael and grace you can speak to this. i think what it is that their bosses in corporate america said no debt cereal ceiling is sacrosanct. you mess with payments to soldiers any time you like but you're not going to mess with our bonds, what do you think about that, grace. >> that's a little conspiracial for my test, but they said,...
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Jan 27, 2013
01/13
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for every dollar increase in this debt ceiling we have to have a dollar in cuts to match that. the president said earlier this month, i'm not doing that anymore. we are not going to keep negotiating over the debt ceiling. this is our obligation over. the republicans have conceded the president had won the argument and are now -- this week they ebb extended the debt ceiling with no accompanied spending cuts. the republicans will cede that issue to him. >> your latest article, mitt romney i'm not going away. tell me. >> certainly was a little different. he came in to toub this weekend for the alfalfa dinner. we hadn't seen a lot from mitt romney since he lost in november. he to told donors that it was purposeful. he is not going anywhere. he will be active in 2013 and 2014s and in terms of 2016. although some sources said his personal ambition for public office are over. >> good to see you both today. thank you so much. >> thank you, t.j. >>> to the weather, the midwest is facing an ice threat. winter storm is dropping snow and freezing rain expected to bring icy conditions. powe
for every dollar increase in this debt ceiling we have to have a dollar in cuts to match that. the president said earlier this month, i'm not doing that anymore. we are not going to keep negotiating over the debt ceiling. this is our obligation over. the republicans have conceded the president had won the argument and are now -- this week they ebb extended the debt ceiling with no accompanied spending cuts. the republicans will cede that issue to him. >> your latest article, mitt romney...
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Jan 30, 2013
01/13
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CURRENT
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police budgets, to -- you know supposedly deal with this debt ceiling -- the last time i checked, 87 americans did not die from the fiscal cliff or the debt ceiling. they are dying from unrestricted access to guns and congress is to blame. >> jennifer: give us some hope. if you have to put your prognosticating hat on, which of the measures are going to get through this congress? will there be an assault weapons ban, background checks and a ban on high-capacity magazines. >> if general mccrystal continues to speak out that these are designed for war and maximum body damage, not for a civilized society, we might get that ban on assault weapons. we should get a universal background check for all gun sales so it's harder for criminals, the mentally ill and terrorist groups that come to u.s. gun shows because they can buy assault weapons without a background check in this country, we should be able to get that. the ban on high-capacity ammunition clips is just common sense. we should get consumer protection standards like we have for toy guns but not real guns and then lindsay graham is s
police budgets, to -- you know supposedly deal with this debt ceiling -- the last time i checked, 87 americans did not die from the fiscal cliff or the debt ceiling. they are dying from unrestricted access to guns and congress is to blame. >> jennifer: give us some hope. if you have to put your prognosticating hat on, which of the measures are going to get through this congress? will there be an assault weapons ban, background checks and a ban on high-capacity magazines. >> if...
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Jan 24, 2013
01/13
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KQED
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remember how they vowed they would only raise the debt ceiling by a dollar for every dollar cut in spending. now they said never mind. we'll push that down the road. the big fight will be on the sweeping spending cuts that go into effect march 1 and on the government funding that runs out on march 27. march is going to be the month to watch, and it's a month that could end in a government shutdown. >> ifill: is it the kind of fight the republicans want to have to redefine themselveses? >> i think they do. gwen, i think you have to know when to hold them and know when to fold them. yes, the republicans folded on this wise wisely. finally, i think they got some smart on this. you have to pick your fights. they need a breather now. they've been on the defense for a year on tax cuts for millionaires, on toughness, shutting down the government, they're not going to compromise. they need to recalbright here, a reset button needs to be pushed and it seems like in every aspect of government. and fight on future spending, not on obligations already incur. >> ifill: in the inaugural address this week
remember how they vowed they would only raise the debt ceiling by a dollar for every dollar cut in spending. now they said never mind. we'll push that down the road. the big fight will be on the sweeping spending cuts that go into effect march 1 and on the government funding that runs out on march 27. march is going to be the month to watch, and it's a month that could end in a government shutdown. >> ifill: is it the kind of fight the republicans want to have to redefine themselveses?...
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Jan 31, 2013
01/13
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every dollar increase in the debt ceiling. those amendments expected to be defeated. the bill won't technically raise the debt ceiling, but it will suspend it until may 19th when it will be raised by the amount that the treasury borrows in the interim. that's how it's going to work. and markets, as we've been talking about on a tear this month with the dow having its best january in decades. but will yesterday's surprising drop in gdp reign in the bulls, it says here? let's get a read on the state of the economy. at least it wasn't a -- that kind of rein. there's three of them. anyway, joining us for the next hour is bob bruska. that's fao -- >> no. you cannot. >> fao economics. as becky said at the top, things are going to go really well or the market is going to have an '87 crash. >> i like the binary outlook. >> everything you said was so good until you gout to that point. >> he usually wears one of these very clever ties. >> i'm not going to give him any -- >> there you go, joe. >> you didn't forget because you are getting
every dollar increase in the debt ceiling. those amendments expected to be defeated. the bill won't technically raise the debt ceiling, but it will suspend it until may 19th when it will be raised by the amount that the treasury borrows in the interim. that's how it's going to work. and markets, as we've been talking about on a tear this month with the dow having its best january in decades. but will yesterday's surprising drop in gdp reign in the bulls, it says here? let's get a read on the...
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Jan 24, 2013
01/13
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so on top of keeping this debt ceiling cloud over the economy, they're talking about these across-the-board meat ax cuts that will also hurt the economy, when we should be focused on jobs and economic growth. >> congressman chris van hollen, good to have you with us tonight on "the ed show." >> good to be with you. thank you. >> there is a lot more coming up in the next half hour of "the ed show." stay with us. ted nugent goes off the deep end. >> the barack obama gang attempting to reimplement the tyranny of king george. >> we'll show you what he and his buddies will be up against. >>> we all pay a transaction tax every day, but not the fat cats on wall street. david cay johnston tells us how it could make a dig difference. >>> and next, vermont senator bernie sanders will tell us if the senate filibuster rules are about to change. >>> welcome back to "the ed show." at this hour, there is still no finalized deal between democrats and republicans on filibuster reform in the senate, but new details are coming out. but no matter what happens, it looks like the all important talking filibuster
so on top of keeping this debt ceiling cloud over the economy, they're talking about these across-the-board meat ax cuts that will also hurt the economy, when we should be focused on jobs and economic growth. >> congressman chris van hollen, good to have you with us tonight on "the ed show." >> good to be with you. thank you. >> there is a lot more coming up in the next half hour of "the ed show." stay with us. ted nugent goes off the deep end. >> the...
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Jan 31, 2013
01/13
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it is set to vote on a bill to athe debt ceiling to keep going up through the middle of may had a would delay the ex-penned showdown between democrats and republicans over spending cuts. the house passed a bill last week. >>> president obama says he will sign it if it passes in the senate. >>> we are still following a developing story out of alabama. a-year-old boy is being held hostage and is now going on three days. here is what we know. 63-year-old man boarded a school bus tuesday after fatally shooting the bus driver. he grabbed the 5-year-old sxwoy pled the scene. police tracked the man down but says he has been holding the child hostage for more than 30 hours. neighbors of the man describe him as a loner and survivalist who distrust it is government. you can count on news4 for updates it is a story continues to unfold. >>> metro says it may need to review its procedures with d.c. fire after a chaotic evening commute. an insulator started smoking on the green line and the emergency responder cut the wrong electricity source. that left two trains stopped for hours between the anacos
it is set to vote on a bill to athe debt ceiling to keep going up through the middle of may had a would delay the ex-penned showdown between democrats and republicans over spending cuts. the house passed a bill last week. >>> president obama says he will sign it if it passes in the senate. >>> we are still following a developing story out of alabama. a-year-old boy is being held hostage and is now going on three days. here is what we know. 63-year-old man boarded a school bus...
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Jan 24, 2013
01/13
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CNN
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ceiling ultimately unless they get severe spending cuts and the obama administration is not going to give it to them. and you are going to watch the u.s. do crazy, crazy things this year. >> if you are right on those crazy, crazy things, then the rest of us are in for a dreadful, dread full time? >> dreadful. it is going to be so strange for the richest country on earth to cross their arms and say i'm not paying. imagine crossing your arms. you are going to see it this year. >> reporter: now, we have been asking our guests here for the riskometer. on this side we have is the u.s. a bigger threat to global growth in 2013. on this side the e.u. lutnic thinks the u.s. is by far the bigger. as you look overall most people still seem to believe europe is the biggest threat in 2013. by the way, speet tweet me wher think the biggest threat is. >> very official looking. did you make that yourself? >> don't you mock it? it works and it is doing a good job. >> we will have people tweet you and see what they feel about all of this but a lot of power players weighing in on whether or not there i
ceiling ultimately unless they get severe spending cuts and the obama administration is not going to give it to them. and you are going to watch the u.s. do crazy, crazy things this year. >> if you are right on those crazy, crazy things, then the rest of us are in for a dreadful, dread full time? >> dreadful. it is going to be so strange for the richest country on earth to cross their arms and say i'm not paying. imagine crossing your arms. you are going to see it this year....
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Jan 24, 2013
01/13
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the debt ceiling is the limit on how much the feds can borrow. republican leaders were refusing to raise it without an equal amount of spending cuts. but the bill they just passed has a new ultimatum for the house and the senate. no budget, no pay. carl cameron in the d.c. newsroom tonight. how is this supposed to break the gridlock? >> hey, shep. it's basically a two-part deal. the first says by april 15th, both the house and the senate each have to pass a budget that balances in 10 years. should either chamber fail then its members paychecks can't be delayed. they can't stop it constitutionally they have to get paid. the other part suspends enforcement of the federal debt limit until may 19th, at which point it will increase retroactively without any offset in spending cuts. here is how speaker john boehner summed it up today. >> you know, the premise here is pretty simple. it says that there should be no long-term increase in the debt limit until there is a long-term plan to deal with the fiscal crisis that faces our country. >> and now the de
the debt ceiling is the limit on how much the feds can borrow. republican leaders were refusing to raise it without an equal amount of spending cuts. but the bill they just passed has a new ultimatum for the house and the senate. no budget, no pay. carl cameron in the d.c. newsroom tonight. how is this supposed to break the gridlock? >> hey, shep. it's basically a two-part deal. the first says by april 15th, both the house and the senate each have to pass a budget that balances in 10...
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Jan 25, 2013
01/13
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three or four months with the debt ceiling. so the sequester is the next thing that republicans -- >> yes, sequester and the budget. and, i don't know what richard things, but my view was -- >> hasn't been a budget in four years -- >> there has been a budget. not a stand-alone budget. they just keep continuing the budget that already exists. >> is that a problem? >> it can be a problem. >> how do you -- >> i think it was -- i blame partisanship in washington. i don't think that's any one person's fault by any means. i think not making the fight about the debt ceiling, which has the unfortunate downside that if you mess it up, the u.s. government defaults, and it's a financial catastrophe, this was a sign of maturity. i think on the republicans' part that let's make it about the budget. so the budget is now going to come to so-called continuing resolution. they're going to have to have a fight about a government shutdown. this is what they should be arguing about. what does the government spend money on? what should it spend mon
three or four months with the debt ceiling. so the sequester is the next thing that republicans -- >> yes, sequester and the budget. and, i don't know what richard things, but my view was -- >> hasn't been a budget in four years -- >> there has been a budget. not a stand-alone budget. they just keep continuing the budget that already exists. >> is that a problem? >> it can be a problem. >> how do you -- >> i think it was -- i blame partisanship in...
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Jan 24, 2013
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going to raise it without equal pay cut, and basically he went back on that, and as you said, all he did was kick it down the road for three months. what was the point for him? >> the point was to look like they had some kind of a win because they knew they were in trouble on the debt ceiling, and then put the pressure on somebody else, namely the senate. but they are going to put forth a budget pretty soon that is really going to be an important % contrast for the american people to see. they are going to try to balance the budget in ten years, which you cannot do without slashing medicare and medicaid, and social security. so the american people will get, i think, a very good look at the way republicans want to balance the budget and do deficit reduction and the way democrats do. we actually went through this with paul ryan's budget which was so egregious the leader of his party had to back away from it in the campaign. >> stephanie: yeah, it was seen as sort of a slap at the senate but they are calling it the no budget, no pay idea. it has been regarded by a lot of people as a gim
going to raise it without equal pay cut, and basically he went back on that, and as you said, all he did was kick it down the road for three months. what was the point for him? >> the point was to look like they had some kind of a win because they knew they were in trouble on the debt ceiling, and then put the pressure on somebody else, namely the senate. but they are going to put forth a budget pretty soon that is really going to be an important % contrast for the american people to see....
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Jan 28, 2013
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that was to pay for the last debt ceiling increase. >> one of the nations largest federal contractors, general dynamic, announced in recent days a $2 billion loss which it is blaming on defense cuts and falling government demand. >> the measures will have to be taken. layoffs and the defense industry. most importantly to me, devastating growth to our national security at the sequestration takes place. it is up to congress and the president to act together. frankly, so far, i have not been the type of urgency that many of us feel about sequestration and its implementation. >> it seems that the war being wound down in afghanistan that the real fight is beginning at home for tighter budgets. melissa: jennifer griffin, thank you very much. illinois heading to disaster. joining us now, dan rutherford. that is coming up. lori: are you overeducated and underemployed? the new normal of this job recovery. ♪ . . . .. [ male announcer ] where do you turn for legal matters? at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a busi
that was to pay for the last debt ceiling increase. >> one of the nations largest federal contractors, general dynamic, announced in recent days a $2 billion loss which it is blaming on defense cuts and falling government demand. >> the measures will have to be taken. layoffs and the defense industry. most importantly to me, devastating growth to our national security at the sequestration takes place. it is up to congress and the president to act together. frankly, so far, i have...
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Jan 24, 2013
01/13
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the treasury has warned the country could default on some loans as early as next month if the debt ceiling isn't lifted. >>> 6:48 now. a local company reporting major losses. they say the reason is defense cuts. cnbc has more live. kayla, good morning. >>> good morning, aaron. general dynamics, one of the nation's biggest federal contractors, reported a huge quarterly loss on wednesday, blaming it largely on defense cuts. the company which is based in falls church, virginia, posted a $2 billion fourth quarter loss on lower than expected sales as shrinking government orders and writedowns hammered the maker of weapon and aircraft. stock dropped as much as 5% in trading before recovering to close up about 1%. analyst attribute that to reassuring comments from the company ceo. >>> the washington's dependence on government and defense contracts makes it vulnerable to the spending cuts put in place by president obama and congress between 2000 and 2010. government procurement spending grew by double digits. last year it fell by more than 5%. back to you. >> thank you. >>> redskins players are be
the treasury has warned the country could default on some loans as early as next month if the debt ceiling isn't lifted. >>> 6:48 now. a local company reporting major losses. they say the reason is defense cuts. cnbc has more live. kayla, good morning. >>> good morning, aaron. general dynamics, one of the nation's biggest federal contractors, reported a huge quarterly loss on wednesday, blaming it largely on defense cuts. the company which is based in falls church, virginia,...
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Jan 26, 2013
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we are not going to just keep raising the debt ceiling, we are going to make a down payment on debt reduction and we are going to putt -- we are going to point the country in the right direction. we are going to cut spending. [applause] there will be times when conservatives disagree on the way forward. we never marched in lockstep. we can deliver it in private. all we should ask for each other is that we give an honest account of our actions and the reasons for them. we should challenge the left, not each other. if we take a prudent course we will be in very good company. take james madison. nowadays we call him the founder and the father of the constitution. but at the constitutional convention he lost key arguments. he fought to give each state the same number of seats in the senate. he wanted to give congress more power. he wanted them to be able to be tough state laws. in both cases, he argued vigorously for his side. in both sets -- in both cases he lost. when it came to ratify the when it came time to ratify the constitution, there was no better person than james madison. he led the ch
we are not going to just keep raising the debt ceiling, we are going to make a down payment on debt reduction and we are going to putt -- we are going to point the country in the right direction. we are going to cut spending. [applause] there will be times when conservatives disagree on the way forward. we never marched in lockstep. we can deliver it in private. all we should ask for each other is that we give an honest account of our actions and the reasons for them. we should challenge the...
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Jan 28, 2013
01/13
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that was to pay for the last debt ceiling increase let alone any future increases. >> reporter: one of the nation's largest federal contractors, general dynamics based in fall's church, virginia, announced a $2 billion loss which it is blaming on defense cuts and falling government demand. >> draconian measures will have to be taken, furloughs, layoffs in the defense industry but most importantly to me, a devastating blow to our national security if the sequestration takes place. and it is up to congress and the president to act together and frankly so far i have not seen the kind of urgency that many of us feel about sequestration and, its implementation report so it seems with the war being wound down in afghanistan, the real fight begins at home for tighter bum jets. jamie? jamie: those civilians play an important role. thanks. jon: take a look at this. a brush with death for a guy on a motorcycle, when a big-rig truck flips over and nearly crushes him. jamie: whoa. jon: yeah, that amazing video, where it happened. we'll tell you about it coming up. >>> plus football is america's mo
that was to pay for the last debt ceiling increase let alone any future increases. >> reporter: one of the nation's largest federal contractors, general dynamics based in fall's church, virginia, announced a $2 billion loss which it is blaming on defense cuts and falling government demand. >> draconian measures will have to be taken, furloughs, layoffs in the defense industry but most importantly to me, a devastating blow to our national security if the sequestration takes place....
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Jan 26, 2013
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we've got sequestration coming, we've got the debt ceiling coming again we have to deal with in may. your article, this is a heck of a title, once unthinkable severe spending cuts now seem plausible, how so? >> t.j., what we saw in the congress was a few years ago they put together such big budget cuts, $1.2 trillion in cuts split 50-50 between military spending and domestic spending. and those were so big that everybody agreed at the time that there was no way we would do kind of this across the board budget ax. we're going to come back, we're going to rethink this and we're going to try to get those savings in a more -- in a smarter way. and that hope as it were is pretty much shot now when you talk to the republicans and democrats in the congress. republicans believe many of the deficit hawks out there believe this is the best chance they have for cutting spending. it's going to become law on march 1st. it's already on the way to taking effect. and democrats are happy to replace some of those cuts, particularly in the military side, but they want to do it with tax increases which
we've got sequestration coming, we've got the debt ceiling coming again we have to deal with in may. your article, this is a heck of a title, once unthinkable severe spending cuts now seem plausible, how so? >> t.j., what we saw in the congress was a few years ago they put together such big budget cuts, $1.2 trillion in cuts split 50-50 between military spending and domestic spending. and those were so big that everybody agreed at the time that there was no way we would do kind of this...